Seems token recovery already began.
Another little detail in addition to the effort described, users pay trading fees on Binance in the coins they trade, so Binance's naturally accumulates all tokens they list.
Your funds are SAFU!
@cz_binance@elonmusk@HuaweiMate6 Elon, I will always respect you. However, your attitude regarding Starlink in Ukraine and the Binance hacking incident comes across as harsh. This is not the righteous and kind-hearted Elon Musk.🥲 @elonmusk
User funds are SAFU!
Yet, this pregnant lady 👇 pulled an all nighter, along side hundreds of Binancians.
Many industry friends and even competitors (including some previously-not-so-friendly ones) provided very much needed help. 🙏
It hurts, but we will survive. 💪
User funds are safe!
It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m).
I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered.
World’s biggest crypto exchange just got hit
Everyone is panicking right now, even @elonmusk reacted
Should you worry? Here are the actual numbers 👇
• $5.8B outflows reported from hot wallets
• But @binance holds ~$165B in total reserves
• That means this is still under 3.5% of what they actually hold
• @Tether already froze $1.567B+ USDT
• @circle froze $823M USDC
• So a big chunk is already locked and can’t be moved
• SAFU fund (their insurance) has ~15,000 BTC worth over $1B
• Plus they can cover from their own reserves and balance sheet
• @cz_binance already said: “User funds are safe
• And later: “Loss might be a bit higher… but will cover”
• @binance official statement: “User funds are completely safe”
• Withdrawals temporarily paused only for security checks
• App and trading still working normally
People are panicking and comparing this to FTX, looking like paid campaigns.
This is not @FTX_Official
FTX had zero real reserves, fake books, and was completely insolvent.
Binance has $165B reserves, monthly Proof of Reserves above 100%, and a real SAFU fund ready to use
Don’t let the fear and FUD control you
Funds are safe
I’m going to sleep. Don’t worry guys.
#Binance
When BNB started 9 years ago, I never thought I would be ringing the bell for a blockchain token (treasury) on NASDAQ one day. I don’t know what shows crypto and tradfi converging more than this.
#BNB Standard